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is president obama really cares about the deficit. if there is something he noticed in the first two years when the economic crisis had to be front and center, the thing he wanted to deal with was the long-run deficit. the idea that he went on a spending binge if you don't make threats like that is crazy. the evidence is there that he put spending cuts on the table. he asked them for them to be paired with tax increases as well. there is more good will than people realize. more agreement that we have such a big budget problem that will we're going to fire on all cylinders. we have to cut spending. frankly, we have raise more revenue. >> you're listening to the california program and our speakers are economic experts. we are discussing national, regional, and global economic challenges. you can find video online. there's a series of questions around employment and job growth. what what is your outlook on job growth? >> i will start. i think -- i will say i was here last year and i'm more optimistic this year than last year. we made a significant amount of progress. it looks like housing prices h
" is next. host: the federal deficit is expected to dip below one trillion. the news comes as republicans and democrats face a march 1 deadline to avoid billions in across-the-board spending cuts. the pentagon announced it will offer benefits to same-sex couples. in the senate is wrapping up work on the violence against women act. and the house will vote on a bill requiring the president to offer a plan to balance the federal budget in 10 years. good morning. we begin with your take on the leaked white paper from the white house just fine drone strikes on u.s. citizens overseas. nbc news reported on the memo monday night and it has gotten lots of reaction in washington. what are your thoughts? call -- we want to get your thoughts on social media as well on twitter or facebook. or send us an e-mail. we will get your thoughts in a moment. first, josh gerstein is joining us on the phone. here's your headline -- what was this memo? guest: this is a white paper that looks like it was derived from some confidential legal opinions that the opinions -- opinions that the justice department wrote t
's pockets but i'm sure it appears and power deficits all over the world. and i don't want to bring up the sisterhood of suffering in this, but certainly stands united and salvation women face a dual burden and the fact they work outside the home, but their work is not considered a contribution to the mainstream economy. certainly pakistan work on the long. so that is why we are putting borel and herbal women at the bottom of the pier made at our development strategies. >> thank you for coming. i want to ask you about the drugs. so pakistan's position is international law under those guidelines a lot to ask, why did she choose them? has pakistan shot drums and if not, the reason i assess this because there's bob pakistan publicly -- >> that may address this is most spokesperson do. they speak to what began in terms of the question and you do ask why -- you ask a question, which is a required complicity in this? let me assure you since we've been in government, there's no question of wink and nod. this is a parliamentary breadline that all government institutions have internalized this
, investment in this term, and we all recognize the deficit is an issue but it is an issue over a long term, and the balancing act by repealing sequestration creates for us in this country an opportunity to continue to recover and stabilize our economy, invest in thing wes need for the future, and put on the table revenue that is not there that needs to be part of the revenue generation we need in order to deal with the deficit issues of this country and the investment needed for recovery. thank you very much. >> thank you. i'm so happy to be here with the progressive caucus, talking bat sensible alternative. here are the facts. full implementation of the sequestration would threaten 2.4 million jobs. both in the public and the private sector. the congressional budget office has said that sequestration, if allowed to take effect, would reduce economic growth by 1.25% this year. so, there's no doubt that the sequestration would harm the economy. we need to make sure a sequestration is going to be replaced, it isn't replaced with something even worse. the president has already signed into law
. . it is not broke. our priorities are broken. there is a misplaced obsession with debt and deficits as the national emergency of our time. that has driven the story line inside the beltway. we did a story on how the austerity cost rules washington. it is a portrait of think tanks, philanthropists and others who have framed in a way so it is hard to tell an alternative story. that has shifted a little because of new voices and forces emerging from the 99% or what ever you want to call it. >> you had better have twitter and facebook involved in the project. >> we do, absolutely. we have all kinds of new media. i agree you need to use all of that. it has been a very powerful force. we use all of that at "the nation. " we have a correspondent right about this in a politically. at occupy wall street in new york a few miles from our office, one thing that struck our correspondent was how many young people came to the square and were caught up in conversations, talking to people and the general assembly's, conversations. so many people have lived in front of their laptop or been part of the new media that
a current account deficit for the second straight month. the first time the country has been in the red for several months in a row since officials started keeping track the way they do now. finance ministry officials say the current account deficit for december, $2.8 billion. the trade balance registered a deficit of $6 billion. exports fell 6.9%. imports up .8%. in yen terms over the previous year. the current account surplus for 2012 is the smallest based on comparable data based on 1985. surplus fell 50.8% to $50.2 billion. >>> china's total amount of trade soared 27% from january year earlier. but trade with japan posted much smaller growth. china's customs data shows exports totalled more than 180 billion. up 25%. the country imported 160 billion, showing an increase of 29%. the total amount of trade surged 27%. the jump is attributed mainly to dent in the same month last year. the lunar new year holidays fell in january 2012. >>> trade with japan grew slightly more than 10%. china's trade with asean climbed 43%. the data showed that china's trade with the high-growth region is ex
people like laura tyson writing columns calling for the need for a plan for faster growth, not deficit reduction. what is the president -- i know you've talked about how all the president's plans envision job creation, but what does the president tell his advisors when he sees these signs of a sluggish recovery? what is he asking in the way of things to speed recovery, create jobs and stimulate growth? >> i'll go to the narrow question first. every time the president meets with his economic advisors to discuss policy proposals and refinements to existing policies, the focus is on job creation and economic growth. and that includes when we have discussions about deficit reduction. as i've said many times and as the president has made clear, deficit reduction is not a goal unto itself. it is a means to, if done right , the desired goal, which is greater growth and greater job creation. as part of an overall economic policy. i would note that today's jobs figures and the revisions that we saw in previous months' jobs figures mean that over 35 months we have created 6.1 million private sec
with some of my republican friends is that we'rewe all want to fix the deficit problem. there is no question. but i think, when they have a chance to look at this bill and understand what we're really facing, i don't think we will have a problem. >> how is this different from the proposal from a year ago? >> did we have a pay freeze a year ago? [laughter] >> it is different. the house had the attrition of the workforce that is in this component. we had a combination -- instead of every three positions that came open. we had two. and a combination of overall across the federal government over a year. this is different here it combines both so we're on the same page. and we have the house proposal on nutrition and we added congressional pay freeze on it. >> what makes you think this time around that the senate majority leader will take up this proposal? >> i would certainly defer to the chairman, but there is a real urgency here. one of the reasons that the president and the administration, during this campaign, didn't want the actual warrant act, the law that requires to notify workers that t
that we need higher fuel tax, and we can use that either to reduce the deficit or to pay for something else. it was designed -- or intended -- whether it has done so successfully or not, it was done to pay for infrastructure. >> absolutely. we are not real happy about that. >> john, what are you hoping for next week? >> for some reason, i have not been consulted on that. the president in the campaign said he was 4 and all of the above energy policy, so let's have some announcements that support that -- he was for an " all of the above" energy policy. let's move forward with the things that you need to do to accomplish that policy. i would say that we would also -- i would like to see stop this discussion about taxing the industry and trying to characterize it as subsidies, which is simply not true, and i would like to see more opportunities in terms of where we can open up areas that are off-limits right now. all those combined can generate an enormous amount of opportunity for the economy right when we need it. >> i will just mention a couple of things. i think lenders have been reall
apiece saying how the trust deficit is hurting the economy. what are you trying to say about that? guest: we usually do not talk about trust deficits. talk about trade, budget deficits, things we can measure. i'm talking about a breakdown of trust in american society, in particular in the institutions that make our economy go. when you look at measures of trust from surveys like a gallup or the pugh institute -- the pew institute, or even newspapers, congress, large corporations, banks, public schools, they have all been going down for many years. for a lot of them, this decline in trust was intensified leading up to and going into the financial crisis. there are a lot of reasons for these things we can talk about. what we were trying to get at in the story that -- is that this matters to the economy, and trust breaks down. there was nobel prize-winning economist who 40 years ago said that every commercial transaction has within it an element of trust. when you trust your counter party, you're more likely to engage in a transaction. when trust begins to fray, and people become suspicious
with smarter spending reductions to bring down the deficit. we can do it in a gradual way so that there is less of an impact. these deductions that certain folks can take advantage of, the average person cannot. not everyone has access to cayman island accounts, the average person does not have access to carry interest income, where they wind up paying a much lower rate on the billions that they earned. we want to make sure that the whole system is fair and transparent and that we are reducing our deficit in a way that does not hamper growth and reduce the kinds of strategies that we need in order to make sure that we are creating a strong middle-class. host: jim from south carolina, on the republican line, good morning. caller: how are you? host: well, thank you. caller: you keep mentioning and hearing people talking about pensions, but pensions are just invested the same way that 401k is. stocks and bonds. people with pensions lost money as well. i heard cases where people were not going to get as much money. if someone is manages their 401k, i do not know, it needs to be managed properly and
with a record debt and deficit, threat of global warming, threat of global poverty, of pandemics, of national security challenges like continuing war on terrorism, the instability of iran and north korea, rising powers, turmoil across the middle east, turmoil in north africa, the proliferation of weapons of mass destruction and the growing threat of cyberattacks. how we confront these problems, how we deal with these challenges will in many ways determine that future course of america. it will determine whether the united states will be a leader in the 21st century or whether we will be just another failed empire in history. to succeed we will depend on the resilience of our economy, the strength of our diplomatic and military institutions and above all, the effectiveness of our political system that underpins in many ways what we do as a country. and that brings me to what i see as perhaps the most urgent task facing this nation and facing all of us and that is overcoming the partisan dysfunction in congress that poses a threat to our quality of life, to our national security, to our economy
of where we stand and where we're going. the 2013 deficit standing at $845 billion. last year it was $1.1 trillion. so obviously we're going in the right direction. but they do give a grim fast if there is a type of austerity measure that is in place while the economy remains very fragile. >> well, that's right. there are two things we have to work on at the same time. the most important thing is to make sure that we continue to see an economic recovery, that we do what we can to accelerate that recovery, put more people back to work. and the sequester would undercut that effort, because if you take that much money out of the economy very rapidly in this across-the-board way, it will result in lost jobs, which is why we proposed this alternative. now over the longer term, there's no doubt we have to reduce our deficit, but we have to do it in a smart and balanced way as the president has said, and that's why we have proposed a combination of cuts and we've already done $1.5 trillion in cuts as part of the budget control act and other action. we did some revenue as part of the most recen
've tried and tried and passed two measures to try to replace the sequester to go about managing the deficit whittling down the entitlement programs so we can save them. instead here we are again and the president says no, we've got to raise taxes. and the same strategy vilify the rich and i suppose don't raise the taxes on the rich and people are happy to do that and that the republicans want to cut programs that try, why would anyone who is in these programs or thinks he might have this program why would that ever be appealing to go the republican way. >> and first of all, we understand that the president is not led on this issue and there's no response whatsoever, and just raising taxes and to say that you can tax the rich and get rid of the problem it's fictional. and i believe we're for fiscal discipline, managing down the debt and deficit for a reason because we don't want a debt crisis to implode this country and our economy because if you see interest rates jack up because all of a sudden our debt is unsustainable. that means families will have to pay more every month in their mortga
the deficit. all by honoring the wish of 2/3 of americans to respect states' rights for marijuana just like we do for alcohol. i would invite my colleagues to join this effort in developing a marijuana policy that makes sense for america today. the speaker pro tempore: the gentleman yields back. the chair recognizes the gentleman from north carolina, mr. coble, for five minutes. mr. coble: i thank the speaker. mr. speaker, january is the traditional month in which new year's resolutions are developed. i'm suggesting that president obama and mrs. boim adopt a resolution -- mrs. obama adopt a resolution. it appears to me, mr. speaker, regard air force one very casually and i believe on some occasions two planes, at least two planes go to the same destination. air force one, mr. speaker, belongs to president and mrs. obama. but air force one also belongs to the american taxpayer. and i would welcome a new year's resolution that would provide generous lace of all future air force one dispatches with prudence, discipline and last but certainly not least fiscal austerity. america's taxpayers will be
to lower the devers, but americans do not -- to lower the deficit, but americans do not support sacrificing real spenged cuts for more tax hikes. the president's sequester should be replaced with spending cuts and reforms that put us on a path to balance a budget over the next 10 years. the american people believe that the tax question has been settled. they know the president called for a balanced approach to the debt. combination of revenues and spending cuts, and they know he's gotten his revenue. the american people do not believe the president will use further tax revenues to lower the debt. and haven't seen this president attempt to spend his way into prosperity over the last four years, they know he'll spend it. the president doesn't believe we have a spending problem. he general winly believes the government -- genuinely believes the government spending causes economic growth. if that were true, the economy today would be thriving. it isn't thriving. the unemployment rate is still nearly 8% and rising. small businesses like the one i ran are struggling. middle class families, those
of a man, but he actually tripled the deficit and debt and expanded the size of government to or proportions, the same as george bush and republicans always blamed democrats, even though clinton and obama both have lower the deficit if you look at the treasury's website for every fiscal year. every single republican from nixon to george bush as we expanded the deficit greatly. the congress didn't change. it is just the president, but it's always blamed on congress. whenever credit given, they want all the credit, none of the responsibility. republicans will say divisive things. zero, this birth certificate or you're not american enough for denver. >> guest: three things. as a general matter, members of those party blame the other party. president obama more than any in my lifetime has landed the republican party and generally been whining or can need more excuses than any president. he seemed as if he couldn't give a speech for a while without claiming everything, including athletes foot on george w. bush. that gets tiresome after a while. but the criteria is claiming the o
crisis. now the focus in washington has swung back to budgets and deficits. the nation is heading toward budget sequestration. for medicare this means a 2% spending cut. but that's just a downpayment. any serious attempt to tackle the deficit must curb the increase in medicare and medicaid spending. last week a kaiser family foundation report listed 150 ideas to reduce medicare spending. the problem is almost all of
the issue right now is raising rates. the question is if we are serious about reducing our deficit can we stop waste in govment, can we conform healthcare programs in particular. we spend a lot more on healthcare than every other country does and we don't get better outcome. there are things we can do to reduce healthcare costs. >> and can we post loophole deductions lawyers take advantage of so they paoloer rates than bus driver or cop? if you combine those together you cannot only reduce the deficit but continue to invest in things like education and research and development that are going to help us grow. >> just a few hours from now president obama will continue his push for gun control. the heated topic on sunday talk shows. kelly wright is life in washington can more. >> president obama will travel to minneapolis the city that is making steps to curb gun violence. he will talk about the issue that can be taken on the federal level to reduce gun violence. it shows deep de visions over what toe do about curbing the violence. a former navy man watched his wife traumatic giffords watch
and uninsured health costs. the shortfall the average savings deficit for a single female is little over $133,000. that's the additional amount a single female would on average need to save by age 65 to eliminate the shortfall. the recent economic crisis has made it even more difficult. the low contribution rates and the lack of understanding of the need for the comprehensive retirement strategy means inadequate income for the rest of your life. these issues are compounded in addition to living longer older women are likely to have costly chronic medical conditions and need longer-term institutional care. further women are likely to be single at some point in their lives which puts them at a high risk for poverty and it is an irony of the latest stage of life many women become poor for the first time in their life. today the rate of harmony for women 65 and over is close to 11%. in my testimony i have a lot more numbers but what i would like to point out is of those numbers once you get to single women almost a third and for the hispanic women it is 44% which is just the enormous. another twi
gdp calculation rises, government versus consumption plus investment and minus your trade deficit, right? so if it's not going to consumption and it's going into the pockets of the top 1% or whatever, why aren't we seeing that reflected in investment? in fact, we saw very good business and investment numbers in the latest economic data. where are those dollars disappearing to? >> people invest when there's no return. >> excess capacity, you're not going to build more excess capacity just because the fed has low interest rates. i mean, if you look at investment overall, before the crisis, about 40% of all investment was in real estate. now, that is going to be damp dampened just because we built too many houses. >> and we had a bust, right? >> and we had a bust. the good news was a lot of them were showedly built and they'll fall apart and we'll have to reconstruct them. >> thank heavens. >> but the fact is, we overbuilt. the other part is actually not doing badly, given how weak demand is. it's not a lack of money. it's not the weaknesses in our financial system. that was one of t
out of washington to get our deficits under control. hopefully, we do not have to many quarters where we end up in negative territory. this is not an economy growing six percent and can hinder those bibles easily. host: magnolia, texas, david, better. caller: [indiscernible]we are doing great here. i noticed the super bowl is forming dollars per minute. everything is packed. all of the football stadiums. i do not see any recession. host: you said you are doing better why? caller: i live 15 miles from where they are building the number one country in the world. we are getting roads. it is unbelievable around here. we have job signs everywhere. as far as the savings, when interest rates are 1.5%, who will put their money in the bank? bernanke wants you to put it in stocks. that is why there is no interest rate. i took my money for years ago when i bought those rifles. i have made so much money on them. it is unbelievable. host: he mentioned social security. there is a category about the social safety net. guest: we use the term government social benefits to cover quite a few different p
, yes, deficits and taxes and sequesters and potential government shutdowns and debt ceilings. we'll talk about that stuff. all from the perspective of how are we making sure that somebody who works hard in this country, a cop or a teacher, or a construction worker or a receptionist, that they can make it if they work hard. and that their kids can make it. and dream even bigger dreams than they have achieved. and obviously, a lot of what we'll be working on michellely over the next few weeks is going to be on how do we deal with the sequester issue, and i just want to make this quick point. i had a press conference this week in which i reiterated i am prepared, eager, and anxious to do a big deal, a big package that ends this governance by crisis for every two weeks or every two months or every six months. we are threatening this hard won recovery where finally housing is starting to pick up and commercial real estate is starting to do better and the unemployment numbers are still too high, but we're seeing some job growth and businesses are investing and manufacturing is doing we
the deficit go to pot? new legislation would generate tens of billions of dollars in tax revenue. the congressman behind it all joins us to explain. do you ever have too much money? ♪ to grow, we have to boost our social media visibility. more "likes." more tweets. so, beginning today, my son brock and his whole team will be our new senior social media strategists. any questions? since we make radiator valves wouldn't it be better if we just let fedex help us to expand to new markets? hmm gotta admit that's better than a few "likes." i don't have the door code. who's that? he won a contest online to be ceo for the day. how am i supposed to run a business here without an office?! [ male announcer ] fast, reliable deliveries worldwide. fedex. ♪ they said go to school and be a college kid -- melissa: the student loan catastrophe we are seeing all around us, colleges and universities now suing graduates that aren't paying back their loans. the number of students defaulting on their perkins loans, though -- that's not easy to say -- is staggering. it adds up to almost a billion do
in the budget, but he says that he wants to ask congress to find a way to reduce the deficit in a balanced way to avoid these deep and indiscriminate cuts the large measure of which would come from the department of defense. we'll get you more on that, 12:15 the president will be speaking. a young girl's fight for her life spreading a message against taliban oppression, what an amazing story this is. we now hear from the 15-year-old girl from pakistan who was shot for just wanting to go to school. gregg: a florida teenage store did not take her court appearance very seriously until the judge laid down the law, but it's what she said that actually got her more time in the slammer. >> count one would be 10,000. >> are you serious? >> i am serious. adios. [bleep] >> announcer: you never know when, but thieves can steal your identity and turn your life upside down. >> hi. >> hi. you know, i can save you 15% today if you open up a charge card account with us. >> you just read my mind. >> announcer: just one little piece of information and they can open bogus accounts, stealing your credit, your mon
the a blueprint would miss the deadline because the debate in washington over taxes, spending, and the deficit. it was supposed to be delivered to lawmakers yesterday. if you are worried about food safety the agriculture secretary tom vilsack says we need to cut back on a number of inspections on meatpacking plants unless congress can avoid the across-the-board spending cuts that take effect in march. he says the agriculture department is studying how to handlewhich could also impact nutritional programs and food safety research. we know we are in a housing recovery, but the d.c. market is on fire. i will have more on that in the next hour. live at bloomberg headquarters in new york, linda bell reporting for abc 7 news. back to you. >> thank you. we will see you shortly. 4:38 34 degrees at this hour. >> still ahead, a frantic scene in the heart of baltimore. a huge warehouse fire >> welcome back. 4:41 right now. beautiful. the washington monument. 34 degrees this morning. >> we are above the freezing mark. >> that's where we should be this time of year? >> we are working on it. we will been wa
a more sweeping plan of long-term deficit reduction when they couldn't do that, this automatic cut put in to place, in to law. now republicans saying that they expect it will happen and in part are okay with that. because it would automatically begin achieving some spending cuts that the two sides have not been able to come to terms with in another way. you heard the president saying there needs to be more time and the real wrinkle now is that republicans thought the tax issue of increasing rates and more revenue just resolved and from their point of view, they thought no more taxes. that issue's off the table but democrats and the president are talking about things like the famous corporate jet loophole and other things to bring in more money. republicans are saying, no. this is going to be one of those standoff moments. will there be a lot of tension between both sides to try to figure this out? >> absolutely. 2:30 eastern time, the professionive caucus to introduce legislation to eliminate the sequester and seeing a lot of move chess peets pieces on the board. >> reporter: absolutel
into deficit spending and debt, should we not at least apply some standards and some principles in terms of where and how we allocate funds that are sent to us by the taxpayer? i've asked each agency to do that. we haven't received any reports back. all we hear is from a number of voices around town, oh, no, we can't touch any of this. every dime that we spend is absolutely necessary. well, i think what senator coburn has done and begun to do and what i hope to do and also work with him and others is to identify some of those areas and literally ask the question to my colleagues and to the american people, do you think this is really an essential function of the federal government? is this something that maybe we would like to do but don't have the money to do or is this something that frankly has just not lived up to its promise, is wasting money, or is this something that never should have been passed in the first place? if we don't apply those principles to our future spending, we're going to continue down this road. now, we all know that the big three, social security, medicare and m
there are members here that agree, you got to address the larger deficit issue and to address a large deficit issue and my own experience having participated in every budget summit that we've had in past years, you got to be able to develop a balanced package in order to do that. that's just the nature of dealing with the size deficit -- size of deficits that you got. my preference, frankly, is that the congress would do the big deal, get it done, get this behind us, detrigger sequester, some this constant uncertainty, this month-to-month situation where we don't know what the hell we're going to get. that should end. in the absence of that deal, obviously i'll support whatever package you can put together to try to detrigger sequester. whatever you can do to make sure this doesn't happen. i mean, i cannot imagine that people would stand by and deliberately hurt this country in terms of our national defense by letting this take place. >> i'll only add briefly that most of the things we're doing are reversible. that is our goal, that they would be reversible. even if you reverse them it will take so
to the deficit. on that list of attendees for that meeting include marshall fitz from the center for american progress. ben jealous from the naacp and richard from the afl-cio. later in the day the president is meeting separately with a group of business leaders. that includes lloyd from goldman sachs, from yahoo and kent from coca-cola. congress has the next three and a half months to run up the deficit as much as it wants. the house and senate extended the debt ceiling. president obama has signed the no budget, no pay act of 2013. not only does that put off the nation's debt obligations until may 18th, it also withholds pay for a number of congressmen and womenless women unless they pass a budget by april. >>> eight senators have voted to block the violence against women act. that bill would protect victims of domestic violence and this particular version extends that care to illegal immigrants, native americans and lgbt members. senators who voted against considering that bill include ted cruz, marco rubio and rand paul, all republicans. more bill's up next. stay with us. to me now? you k
. you've got to address the larger deficit issue, and to address the larger deficit issue -- and my own experience. i've participated in every budget summit we have indiana past -- we have had in past years. you have to develop a balanced package. that's the nature of dealing with the size deficits you've got. and my preference, frankly, is that the congress would do the big deal, get it done, get this behind us, detrigger sequester, stop this constant uncertainty. this month-to-month situation where we don't know what the hell we're going to get. that should end. in the absence of that deal, obviously i'll support whatever package you can put together to try to detrigger sequester. whatever you can do to make sure this doesn't happen. i mean, i cannot imagine that people would stand by and deliberately hurt this country in terms of our national defense by letting this take place. >> i'll only add briefly that most of the things we're doing are reversible. that is our goal, they would be reversible, but even if you reverse them it will take some time -- and i can't predict that yet -- w
have a deficit. here's a project that gets substantial tax revenue without raising taxes through economic activity, through job creation. further and perhaps most importantly, it will help put our country within striking range of a long-sought goal -- true energy security. for the first time in generations, the united states with its friend and ally canada will have the capacity to produce more energy than we use, reducing or eliminating our reliance on the middle east and other volatile parts of the world. the argument has been advanced that the oil sands will increase carbon emissions and that failing to build the keystone x.l. will somehow reduce emissions. but let's look at that claim. that's the other piece. let's look at the environmental aspects of this project. today, more than 80% of all new recovery in the oil sands is being accomplished in situ, a technology that makes oil sands carbon footprint comparable to conventional drilling. in fact, the oil sands industry has reduced greenhouse gas emissions per barrel of oil produced by an average of 26% since 1990, with some
, yes, deficits and taxes and sequesters and potential government shutdowns, debt ceiling, we'll talk about that stuff. but we'll talk about it from the perspective on how we're making sure someone works hard in this country. a cop, teacher, a construction worker, or a reception worker, they can make it if they work hard. their kids can make it and dream bigger dreams than they have achieved. obviously, a lot of what we'll be working on over the next few weeks is going to be on how do we deal with this sequester issue. i want to make this quick point. i had a press conference this week in which i reiterated that i'm prepared, eager, and ang shouse that ends this government by crisis that every two week or every two months or every six months we are threatening this hard recovery, are finally housing is picking up and real estate is doing better and unemployment numbers are still too high. we're geing job growth and manufacturing is doing well and we continue to have these self-inflicted crisis here in washington where suddenly someone taps the brakes. what i said this week was i want
the economy and put us on a sustainable budget, bring our deficits down in a responsible, balanced way. >> does the president -- considering what the defense cuts did to the contraction of the u.s. economy in the fourth quarter, dois the president goi to be more aggressive in trying to find a way to stop the so-called sequester, the automatic defense cuts that would go through, which could it looks like now -- we already know the economic impact defense cuts have had last quarter. these would obviously slow down the economy even more. is the president going to refocus on this. >> the president has been focused on this for some time. the president made a submission to the super committee a year ago or so, which would have reduced our deficits in a balanced way, eliminated the sequester and his negotiations with the congress on the fiscal cliff. he did the same thing. so this is something that the president has provided a plan. the sequester is bad policy. it's something that we should eliminate. it wasn't intended to take place. and we got a taste for the impact that the sequester might
: this year's federal budget deficit will fall below a trillion dollars for the first time since president obama took office. the congressional budget office projected today the red ink will be roughly $845 billion. it was $1.1 trillion last year. the c.b.o. attributed the decline in part to new tax hikes and to automatic spending cuts scheduled to take effect in march. but it said those same factors may also hold back economic growth. personal computer maker dell has announced it's going private. the company detailed a $24 billion buyout of stockholders today. it's the largest deal of its kind since the great recession. dell has been publicly traded for nearly 25 years. but sales have waned as consumers have shifted towards smartphones and tablets. britain took a major step today toward legalizing same-sex marriage nationwide. the house of commons voted more than 2-1 to legalize the practice. that's despite sharp divisions in the ruling conservative party. prime minister david cameron acknowledged the split, but supported the bill. >> i think it's delight gay people should be able to get
deficit that has at times existed between this committee and the cia. if i am confirmed, a trust deficit between the committee and the cia would be wholly unacceptable to me and i would make it my goal on day one of my tenure and every day thereafter to strengthen the trust between us. i have a representation for speaking my mind and at times doing so in a rather direct manner which some attribute to my new jersey roots. i like to think that my candor and bluntness will reassure you to get straight answers from me, maybe not always the ones you like but you will get answers and reflect any honest views. that's the commitment i make to you. i would like to finish by saying a few words about the importance of taking care of the women and men who serve in the cia. because of the secrecy that intelligence work requires, few americans will ever know the extraordinary sacrifices that these professionals and their families make every day. many of them risk their lives and at times have given their lives to keep us safe. if confirmed i would make it my mission in partnership with the congress to
references to the trust deficit that has at times existed between this committee and the cia. if i'm confirmed, the address the deficit between the committee and the cia would be wholly unacceptable and i would make it my goal on day one of my tenure and every day thereafter to strengthen the trust between us. i have a reputation for speaking my mind, and at times doing so in a direct manner, which some attribute to my new jersey routes. -- roots. i would like to think that my candor would reassure you that you'll get straight answers from me, maybe not always those you will like, but you will get answers and they will reflect my honest views. that is the commitment i made to you. i would like to finish by saying a few words about the importance of taking care of the women and men who serve in the cia. because the of the secretiveness that the intelligence work requires, few americans will ever know the making sacrifices that these professionals and their families make every day. many have risked their lives and at times have given their lives to keep our country states. -- safe. i
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